580 Building getting $30M mixed-use makeover


The new owner of the 580 Building in downtown Cincinnati has big plans for the building.

Anderson Birkla Investment Partners LLC purchased the building for $13.7 million on Feb. 5. Birkla plans to invest about $30 million to convert the building into a mixed-use complex anchored by upscale apartments, Class A office and restaurant/entertainment uses.

Details of the renovation will be released in about two months.

“The $40 million dollar investment to redevelop the 580 Building will revitalize and bring a resurgence to a prime downtown asset, creating a quality place of work, a unique opportunity for residents to live, and an exceptional place to be entertained,” Anthony Birkla, a principal in the company, said in a news release.

The Business Courier reported in November that Birkla was in talks to buy the 17-story office building and turn most of it into residential space.

Cassidy Turley’s James O’Connell represented the seller, an institutional adviser firm, whle Don Murphy, also with Cassidy Turley, represented the buyer. Cassidy Turley will retain property management and leasing assignments for the building, located at 580 Walnut St.